New Opportunity Checking Accounts

This new alternative banking product is a checking account that enables individuals with a history of banking or credit problems the opportunity to access traditional banking services. It is designed to help customers reenter the financial mainstream and be able to achieve and maintain financial stability.

Product Details

  • $25 minimum required to open the account
  • No minimum monthly balance required
  • Free Personal Touch 24 telephone banking
  • Free Internet Banking Service – you may incur charges from your internet provider
  • Free Automatic Funds Transfers to any Red River Bank Account
  • Free Teller Services at any Red River Bank location
  • Unlimited ATM Card and CheckCard usage – subject to funds available
  • Non-interest bearing account
  • Monthly account fee of $10.00 or $5.00 with Direct Deposit.
  • Maximum of five (5) free checks per month. A fee of $5.00 will be charged for each additional check written.
  • All Non-sufficient funds (NSF) items will be returned – these items can be created by check, in-person withdrawal, ATM withdrawal or other electronic means, as applicable.
  • No overdraft protection offered
  • Customer may be eligible for a conventional checking account if in good standing after 12 months of opening the new opportunity checking account. To be eligible customer may not have more than two (2) overdrafts and account must not have been in the negative status for more than five (5) business days.

To qualify for New Opportunity Checking

  • Customer must not have any fraudulent activity on file with any checking account verification system such as ChexSystems. Any negative history reported with any of these checking account verification systems must be 6 months old or older.
  • Customer must not owe more than $200.00 to any financial institution or organization using ChexSystems or similar checking account verification services.
  • Customer must have a repayment schedule in place to other financial institutions should there be any amount owed.
  • During the first year after the new opportunity checking account is opened, customer must be willing to participate in at least one financial management course offered or sponsored by Red River Bank.
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